Free Trade Pact:Impact On Cheap Indian Medicine!!
India known for it's cheap medicine.which enable low cost drug supplies to many poor countries in the world.A $26 billion drug industry has become an immense profit engine,growing at rate 15-25% a year.Its life saving service for many poor countries because western medicine price are too high.Today Corporates and multinational company want to end the run of the Indian Cheap drug for poor so European union proposed a brand new law as free trade pact.Which drastically increase the price of Indian drug and medicine.
Healthcare in India:-
- About 42% of Indian children's are malnutrition which is twice the African countries.(60 million)
- Approximate 1.72 million child die every year in India before turning on.High Infant mortality rate.
- India leading in many diseases like HIV,Cancer etc.
- More than 50% of Indians have poor sanitation facility.
FTA(Free Trade Pact) means:-
- While trying to push up bilateral trade from $92 billion in 2011 to $237 billion by 2015,the EU will push for stringent norms on intellectual property rights anf for enabling investor on its lawsuits on its violations.
- This would make it easier for international pharma giants to sue the Indian government and drug companies.
- Production of many drugs,including life saving medicines,would thus be curtailed .Moreover,courts can halt drug production when a compliant is filled,where as courts today permit production of lifesaving drugs even while cases are on.
- India's $26 billion pharma industry provides affordable medicine to most of its domestic production and to the world's poorest countries, that are unable to pay sky high prices to treat illness including HIV,malaria and cancer.
- India makes more than 80% of the world's HIV medicine.
- Drug prices may shoot up based on MNC's mood.
- Billion of poor cant afford medicine.
- Government should strongly oppose the move by the EU.
- No FDI in drug industry.
- Government must nationalize Certain Important life saving medicine.